| Name of commodity |
Pepper |
| Ticker symbol |
PPRMLGKOC |
| Trading system |
NCDEX Trading System |
| Hours of Trading |
As per directions of the Forward Markets Commission from time to time
Mondays through Fridays : 10:00 AM to 05:00 PM
Saturdays : 10.00 AM to 2.00 PM
The Exchange may vary the above timing with due notice. |
| Basis |
Malabar Garbled 1 ex designated warehouse Kochi exclusive of all taxes |
| Unit of trading |
1000 kgs (=1 MT) |
| Delivery Unit |
1000 kgs (=1 MT) |
| Quotation/Base Value |
Rs per Quintal |
| Tick size |
Re 1 |
| Price Band |
Daily price limit will be (+)/(-)3%. If the trade hits the prescribed daily price limit there will be a cooling off period for 15 minutes. Trade will be allowed during this cooling off period within the price band. Thereafter the price band would be raised by another (+/-)1%.
If the price hits the revised price band (4%) again during the day, trade will only be allowed within the revised price band. No trade/order shall be permitted during the day beyond the revised limit of (+/-)4%. |
| Quality specification |
Light pepper 2% Max
Other matter 0.5% Max
Moisture 11% Max from November to April
11.5% Max from May to October |
| Quantity variation |
+/- 2% |
| No. of active contracts |
As per the launch calendar below |
| Delivery center |
Kochi (within a radius of 50 km from the municipal limits) |
| Additional Delivery centers |
Calicut, Trissur (within a radius of 50 km from the municipal limits)
Location Premium/Discount as notified by the Exchange from time to time |
| Delivery Logic |
Compulsory delivery |
| Opening of contracts |
Trading in any contract month will open on the 10th of the month. If the 10th day happens to be a non-trading day, contracts would open on the next trading day |
| Tender Period |
Tender Date : T
Tender Period:
Tender period would be of 14 Calendar days during trading hours prior to the expiry date of the contract.
Pay-in and Pay-out: on a T+2 basis. If the tender date is T then, pay-in and pay-out would happen on T + 2 day. If such a T + 2 day happens to be a Saturday, a Sunday or a holiday at the Exchange, clearing banks or any of the service providers, Pay-in and Pay-out would be effected on the next working day. |
| Closing of contracts |
Clearing and Settlement of contracts will commence with the commencement of Tender Period by delivery through intention matching arrived at by the exchange based on the information furnished by the seller and buyer respectively as per the process put in place by the exchange for effecting physical delivery during the period from E-14 to E-1 prior to expiry. Upon the expiry of the contract all the outstanding open position would result in compulsory delivery. |
| Due date/Expiry date |
Expiry date of the contract:
20th day of the delivery month. If 20th happens to be a holiday, a Saturday or a Sunday then the due date shall be the immediately preceding trading day of the Exchange, which is other than a Saturday.
The settlement of contract would be by a early delivery system of a maximum of 15 Pay-ins and Pay-outs or less including the last Pay-in and Pay-out which would be the Final Settlement of the contract. |
| Delivery Specification |
During the period from E-14 to E-1, Seller & Buyer having open position are required to give their intention/notice to deliver to the extent of his open position. The delivery position would be arrived at by the exchange based on the information to give/take delivery furnished by the seller and buyer as per the process put in place by the exchange for effecting physical delivery. If the intention of the buyers/sellers match, then the respective positions would be closed out by physical deliveries. If there is no delivery intention matching between sellers and buyers, then such intentions will get automatically extinguished at close of E-1 day. Intentions can be withdrawn during the course of E-14 to E-1 day if they remain unmatched.
Upon expiry (i.e E) of the contracts all the outstanding open positions should result in compulsory delivery.
The penalty structure for failure to meet delivery obligations will be as per circular no. NCDEX/TRADING-086/2008/216 dated September 16, 2008. |
| Position limits |
Member: 3000 MT for all contracts or 15% of market wide open interest, whichever is higher.
Client: 900 MT
(For hedge limits refer circular no. NCDEX/TRADING-
100/2005/219 dated October 20, 2005).
For near month contracts: The near month limit will be applicable during the last 7 trading days of the expiry of a contract
Member: 1000MT or 15% of market wide open interest in near month whichever is higher
Client: 300 MT |
| Quality Premium/Discount |
None |
| Special Margin |
Special margin of 4% of the value of the contract will be levied whenever the rise or fall in price exceeds 20% of the 90 days prior settlement price. The margin will be payable by buyer or seller depending on whether price rises or falls respectively. The margin shall stay in force so long as price exceeds the 20% limit and will be withdrawn as soon as the price is within the 20 % band |
